Good Vibrations Shoes Inc (GVSI)

[Major Profits]

For starters can you explain why a former "excited[?] shareholder" would post this:

Gotta be a man of my word and admit that the Bashers were right all along.[February 6, 2024]

You think it might be because he was faced with the FACTS? Why do YOU see things differently with the recent events is my question. So if you've been following things here with your eyes open for a change it certainly appears to me that the chances of $GVSI ever becoming SEC Reporting again is SLIM TO NONE!! No, I'm not saying it's IMPOSSIBLE though!! And although I used to believe this I don't believe it nearly as much as before:

George Sharp
@GeorgeASharp
All it took was patience...and my wallet. Remember that. $SRNW $GOFF $GVSI
https://pbs.twimg.com/media/FRMorO6X0AUpPcj?format=jpg&name=small
7:52 AM · Apr 25, 2022·Twitter Web App

But without becoming SEC Reporting FINRA won't be "processing" (screw it, APPROVING!) any $GVSI corporate actions such as a ticker/name change, merger, acquisition, etc. GS has said as much on December 28. Yeah, after some five months or so of some posting DAILY that $GVSI would soon be on the FINRA "Daily "List". Oops, didn't happen huh? Here's why:

The Issue
A couple of generations of management ago, GVSI used to be an SEC reporter, filing audit financials. The last of these audited financials was filed on February 14, 2008. Then, on June 26, 2008, GVSI filed notice of late filing for the first quarter of 2008 (blue).

On July 10, 2013, GVSI filed a Form 15, which is notice that the company doesn't intend to be an SEC Reporter any longer (yellow). However, in this case, the Form 15 was filed when GVSI was already 5 years delinquent in its reporting requirements. The filing of a Form 15 is only truly effective in absolving a company of its reporting requirements if that company is current in its reporting at the time of the filing.

Here, the filing of the Form 15 did not absolve GVSI of its delinquency. Nor does making the company Pink Current, as was accomplished during 2023. While the company is in good standing with the OTC markets, in the eyes of the SEC and FINRA, GVSI remains a delinquent reporter. FINRA will not process a corporate action such as a name change, symbol change or reverse (or forward) split while an issuer is deemed delinquent in its reporting requirements.

The Solution
In order for FINRA to process GVSI's corporate actions--FINRA does not approve actions, they only process them--GVSI will have to once again become a reporting issue in good standing. To do so, GVSI will have to file two years of audited financials within a Form 10 filing. Current reinstated as an SEC reporter in good standing.

The problem was mentioned as far back as 2021 here:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163455957

But Lanham wasn't able to get FINRA to approve the reverse split because FINRA found too many red flags in GVSI that Lanham was unable or unwilling to remedy.

Lanham and his fellow attorney Richard Cutler spent nearly a year appealing FINRA's decision, but FINRA wouldn't budge.

It's one of the main reasons that GVSI is probably too dirty for anybody to do much with in the future, making it a bad custodianship candidate.

The A/S will definitely have to be raised back up at the NV SOS at some point, if the ticker is to get active again.

And anybody thinking of taking over GVSI should serious consider that FINRA is highly unlikely to approve any future corporate action, including any name changes or future reverse split, making the shell basically DOA.[April 27, 2021]

IMO, the only person who could actually be an "excited shareholder", NOW, with all the problems, is a person who is clueless as to that DD but I'll bet that won't stop you from APPEARING to be excited to possible buyers of your shares.

GLTA